This article describes the events that took place between the company Shell and Russia. Ukraine found out earlier this week about how Shell secretly bought crude oil from Russia and Ukraine's forigein minster said "Doesn't Russia's oil smell like Ukraine Blood to you?". Signaling that Ukriane is very upset an American based company bought oil from Russia. Shell claimed they were forced to buy oil from Russia in order to maintian timely supplies of fuel to Europe. For further context, Russia is second most in crude oil production and holds about 8% of Shell's oil production. Shell went on to say the descion was not taken lightly in wake of the situation in Ukraine. Shell was well aware of the backlash they would be facing but it was to keep the global economy afloat. As of now Shell is moving most of its production to their other plants such as Glazpom, which is located in Germany. They are following similar percautions of fellow rival BP. At the end of this article the author said, this situation is unknown and cannot be predicted at this time.
Written By: Erik Batkiewicz
Link: https://www.bbc.com/news/business-60638255
No comments:
Post a Comment